Citigroup Issues Pessimistic Forecast for Evolent Health (NYSE:EVH) Stock Price

Evolent Health (NYSE:EVH) had its target price lowered by Citigroup from $33.00 to $21.00 in a research report sent to investors on Wednesday morning,Benzinga reports. Citigroup currently has a buy rating on the technology company’s stock.

A number of other equities analysts have also recently commented on EVH. Royal Bank of Canada reissued an “outperform” rating and set a $20.00 target price on shares of Evolent Health in a report on Tuesday, November 12th. JPMorgan Chase & Co. raised their price objective on Evolent Health from $36.00 to $45.00 and gave the company an “overweight” rating in a report on Monday, August 19th. Barclays dropped their target price on shares of Evolent Health from $39.00 to $19.00 and set an “overweight” rating for the company in a report on Monday, November 11th. Truist Financial reissued a “buy” rating and issued a $33.00 price target on shares of Evolent Health in a research note on Tuesday, August 27th. Finally, Oppenheimer lowered their price target on shares of Evolent Health from $45.00 to $34.00 and set an “outperform” rating on the stock in a research report on Friday, November 8th. One research analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $29.50.

Evolent Health Stock Performance

EVH opened at $12.38 on Wednesday. The company has a market cap of $1.44 billion, a price-to-earnings ratio of -13.60 and a beta of 1.58. The firm’s fifty day simple moving average is $25.11 and its two-hundred day simple moving average is $24.32. The company has a quick ratio of 1.08, a current ratio of 1.04 and a debt-to-equity ratio of 0.58. Evolent Health has a 52-week low of $12.18 and a 52-week high of $35.00.

Insider Activity at Evolent Health

In related news, President Daniel Joseph Mccarthy sold 23,693 shares of the business’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $30.89, for a total value of $731,876.77. Following the sale, the president now directly owns 198,809 shares in the company, valued at approximately $6,141,210.01. The trade was a 10.65 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Jonathan Weinberg sold 42,140 shares of the stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $31.20, for a total transaction of $1,314,768.00. Following the transaction, the general counsel now directly owns 167,027 shares of the company’s stock, valued at approximately $5,211,242.40. This trade represents a 20.15 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 307,291 shares of company stock worth $9,290,385. Insiders own 1.60% of the company’s stock.

Institutional Trading of Evolent Health

Several institutional investors have recently added to or reduced their stakes in the stock. Quarry LP acquired a new stake in shares of Evolent Health in the second quarter valued at $32,000. Covestor Ltd boosted its stake in shares of Evolent Health by 138.1% in the third quarter. Covestor Ltd now owns 1,424 shares of the technology company’s stock valued at $40,000 after purchasing an additional 826 shares during the period. GAMMA Investing LLC grew its holdings in shares of Evolent Health by 5,365.5% in the third quarter. GAMMA Investing LLC now owns 1,585 shares of the technology company’s stock valued at $45,000 after purchasing an additional 1,556 shares in the last quarter. Headlands Technologies LLC purchased a new stake in Evolent Health during the 1st quarter worth approximately $46,000. Finally, Canada Pension Plan Investment Board acquired a new stake in Evolent Health during the 2nd quarter worth approximately $61,000.

About Evolent Health

Evolent Health, Inc, through its subsidiary, Evolent Health LLC, offers specialty care management services in oncology, cardiology, and musculoskeletal markets in the United States. The company provides platform for health plan administration and value-based business infrastructure. It offers administrative services, such as health plan services, pharmacy benefits management, risk management, analytics and reporting, and leadership and management; and Identifi, a proprietary technology system that aggregates and analyzes data, manages care workflows, and engages patients.